• Fri. Feb 23rd, 2024

Jeff Bezos Sells Twelve Million Amazon Shares for $2 Billion Amid Space Race Speculation and Other Industry Insights

ByEditor

Feb 12, 2024
$2 Billion Worth of Shares Sold

Jeff Bezos, the founder and largest individual shareholder of Amazon, has recently sold around twelve million shares in the online retail and cloud service provider for two billion dollars (1.86 billion euros). This sale of shares took place on Wednesday and Thursday. Last week, Amazon announced that Bezos would pay a total of up to 50 million shares the world’s largest online retailer wants to sell, with the sales plan scheduled to be completed by January 31, 2025.

The stock deal has sparked various speculations online about why Bezos needs billions. It is believed that the Amazon founder wants to continue financing his space company Blue Origin, in order to stay ahead of rival Elon Musk in the space race. Amazon’s stock rose by more than 70 percent in the previous year, and with a market capitalization of 1.812 trillion dollars, it is currently the fourth most valuable company in the USA, behind Microsoft, Apple, and Google mother Alphabet.

In other news, there are also discussions about Shopify hosting for eCommerce and different types of firearm accessories for sale. Additionally, there are tips on transferring a website to a new host and a guide to hosting with Squarespace among other topics.

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